Tag

Reggie Fowler

All articles tagged with #reggie fowler

crime2 years ago•1 min saved

Ex-Vikings Co-Owner Sentenced to 6 Years for $700M Crypto Scam

Reggie Fowler, former Vikings part owner and AAF investor, has been sentenced to over six years in prison and ordered to forfeit $740 million and pay $53 million in restitution for his role in a $70 million cryptocurrency scheme. Prosecutors claimed that Fowler lied about his net worth to AAF executives in exchange for a substantial portion of the league, which eventually imploded during its only season in 2019. Fowler's inability to provide the necessary funding forced the league to involve billionaire Tom Dundon, who shut it down.

via NBC Sports|

#aaf #crime #cryptocurrency-scheme

crime2 years ago•2 min saved

Former NFL and Vikings co-owner sentenced to 6+ years for crypto fraud

Reggie Fowler, former co-owner of the Minnesota Vikings, has been sentenced to six years in prison for operating as a "shadow bank" to the crypto sector, involving over $700 million in unregulated transactions over a 10-month timespan in 2018. Fowler was sentenced to a total of 75 months on bank fraud and money laundering charges. He managed to pull off his crimes by establishing Global Trading Solutions (GTS) around February 2018, which worked with Crypto Capital and other crypto firms operating out of Israel. Fowler opened a dozen of these accounts to facilitate these crypto transactions without the banks' knowledge and failed to disclose GTS's relationship with the crypto firms.

via Cointelegraph|

#bank-fraud #crime #cryptocurrency